IRS Guidance on Electing ITC
On Friday, June 5, the Internal Revenue Service issued Notice 2009-52, which provides guidance informing taxpayers how to elect to claim the Investment Tax Credit (”ITC”) under IRC § 48 in lieu of the Production Tax Credit (”PTC”) under IRC § 45 with respect to qualifying projects. This election was provided for as part of the American Recovery and Reinvestment Act of 2009 (”ARRA”).
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IRS Guidance on Electing ITC
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